pappilo:


My bills mature soon and I'll be putting in a bid at 12.25% on 4 Dec.

I would have gone a bit higher, say 13% but I need to be successful otherwise Xmas go dull.

Thanks to Feelamong for opening this thread and to the others for their contributions. This thread has financially blessed me and has helped me to learn to save money.

I would have used the money I invested in Tbills to buy a new car which I didnt need and it would have lost half its value by now. Instead this thread prompted me to do something different. I took the plunge and went to Naija and I have not one regret. I have made just short of N1 million over the past 18 months and my capital still dey kankpe (subject to no civil war)

I still get that itch for a new car but my money being tied down and so far away means na for dream and picture I go dey drive that new car.

Chillisauce:


as at december last yr, the exchange rate from USD to naira was 158.
Now its 178

if you changed dollars to naira and had 12% as interest, you even lost so much money.
Do you know of any investment that would bring good returns while protecting your capital in foreign currency.
Fidelity looks good but im not sure what its going on for now.

pappilo:


This is a good point.

This is something I put into consideration. I changed my money at N248 and if I wanted to buy now it is N280. The good thing for me is I have no plans to change back to £s anytime soon. Like I said earlier, the money I have invested in T bills will have just sat in my account (If my fingers didnt get itchy) or more than likely would have been spent on a car.

I mentioned treasury bills to some people on a car forum. They obviously thought it was a scam that you can get 10-13% in Nigeria and up to 22% in Ghana. Some wanted to have a go but I let them know that because I am originally from Nigeria, I can afford to leave my money indefinitely in Nigeria but they on the other hand would be short term investors and there was a chance they may not get back the full capital due to exchange rate variations

Chillisauce:


nice analysis, three scenario, 1. the funds are not yielding interest but little debit charges for maintenance. 2. bank charge of 2% of your capital for any foriegn investment which is usually between 2 - 3 % ( more loss). 3. convert to naira and in future time the naira become useless by the day. the rate at which the naira is dropping is baffling. and we all know that it takes a miraclefor the naira to recover from the losses

petikal:

Even in the western world, you gotta account for inflation; currently in Canada it stands at just over 2%. The funny part is their banks won't offer you 2% on a savings account. So even if you leave your money in a bank here, you still lose, unless you invest in stocks.

That's why it's important to diversify. After enough capital, I'm considering moving some into landed assets which appreciate in value over the same period Naira looses value.

favoured247:

what is the rate first bank is offering for 91 days on t-bills?

just2endowed:
Can anyone drop the rate banks in nigeria gives for easy comparison.

Chillisauce:


I saw an advert here, something about Nigeria property online. Some houses in Ajah go like 14,000,000. But these days one got to be careful not to buy already own or government own plot. Real estate in Nigeria is still shaky

Jessglam:
This sure is an educative thread. too bad i just saw it now. please guys, i need more light on the bidding process. please explain in details how one auctions for a particular rate. how can i invest in tbills with the sum o 200,000. what is the best institutions that offers the best rate. i would really love a feedback.

Jessglam:
This sure is an educative thread. too bad i just saw it now. please guys, i need more light on the bidding process. please explain in details how one auctions for a particular rate. how can i invest in tbills with the sum o 200,000. what is the best institutions that offers the best rate. i would really love a feedback.

angelo82:
Officially,Interest rate is now 13%..........


http://www.proshareng.com/news/25226

angelo82:
Officially,Interest rate is now 13%..........


http://www.proshareng.com/news/25226

angelo82:
Officially,Interest rate is now 13%..........


http://www.proshareng.com/news/25226

pappilo:


Bro. That report long die and I am not too sure what to make of it. I already put in a request for 364 day Tbills on 3 Dec at 12.5%. Does this report mean I should increase my bid rate to 20%?

Chillisauce:


yeah.

It will soon get to 16%. they have to compensate with the falling of the naira

obiak4:

thanks bro 4 d info does that means we should be expecting rates at double figure(s) for 91days? And i also what to throw the question open to the house
WHAT IS THE EFFECT OF INTEREST RATE @13 PERCENT ON TBILLS?OYA MAKE UNA DO JUSTICE OOO

angelo82:


It means the rate will increase......

coderXO:
Best time to change your $$$/€€€ to Naira is now. Naira is weak right now and you will get an extra 7% since October rates.

You will get more Naira for your $$$.

The weakness is going to last 3 months; -ember months. It will regain it's ground come January/February.

Don't go in for 365-day tenors, the Naira will be weak again when you want to change your money back ( if you wanted to).

90-180 day tenor would be preferable; Naira will have very well recovered from it's weakness. You would be using less Naira to get the $$$ you put in back.

nitrogen:
Yes, our currency is depreciating, so, there must be a compensation, private CRR has been increased to 20 percent, also MPR at 13 percent, are both contractionary measures, meaning, we don't want much liquidity in the system (wrt local guys) as for foreign guys, though there is sovereign risk, we still want your cash to come into Nigeria, so rates must go up for all these to be aided.

coderXO:
Don't go in for 365-day tenors, the Naira will be weak again when you want to change your money back ( if you wanted to). 90-180 day tenor would be preferable; Naira will have very well recovered from it's weakness. You would be using less Naira to get the $$$ you put in back.

coderXO:
Best time to change your $$$/€€€ to Naira is now. Naira is weak right now and you will get an extra 7% since October rates.

You will get more Naira for your $$$.

The weakness is going to last 3 months; -ember months. It will regain it's ground come January/February.

Don't go in for 365-day tenors, the Naira will be weak again when you want to change your money back ( if you wanted to).

90-180 day tenor would be preferable; Naira will have very well recovered from it's weakness. You would be using less Naira to get the $$$ you put in back.

obiak4:

@angelos no b authomatic thing na it depends on many factor apart frm d weak naira,also money in circulation and other small small factors

Elai147:


Bros we no dey see you for NSEMPA again. Hope all is well.

nitrogen:


Haaa, bros, I have always been around, low key things ni jare, all is well! Hope we are seriously making money, this is the time to buy, buy and buy o, FBN, Oando, etc opportunities abound.

nitrogen:


Haaa, bros, I have always been around, low key things ni jare, all is well! Hope we are seriously making money, this is the time to buy, buy and buy o, FBN, Oando, etc opportunities abound.

weimar:

5. I think we too, can influence the purchasing price for TB, that is, if we all decided with one voice the amount we want to purchase TB. As for me, I am asking for 16-18% on 3 Dec 2014. I am certain I will make it this time.